Custom build hooks not being called

I have done the following as documentation and other examples have shown:

Plugin in my project here:

/plugins/myplugin/hooks/myplugin.js

Next to it is the ti.alloy hook:

/plugins/ti.alloy/hooks/alloy.js

In my tiapp.xml file I reference the plugin:

<plugins>
    <plugin version="1.0">ti.alloy</plugin>
    <plugin>myplugin</plugin>
</plugins>

And my plugin's code:

exports.cliVersion = '>=3.2';
 
exports.init = function(logger, config, cli) {
    cli.addHook('build.post.compile', function(build, finished) {
        logger.info('Testing post compile hook');
 
        finished();
    });
};

I'm seeing the plugin found in the build console output:

[INFO] :   Found Titanium plugin id=myplugin version=latest

CLI/SDK I'm using:

Titanium Command-Line Interface, CLI version 3.2.3, Titanium SDK version 3.2.4.v20140519174127

I'm not seeing the 'Testing post compile hook' output. I've run this in terminal so I have the complete log and searched for 'Testing post compile hook' to no avail.

Any ideas about what I'm doing wrong?